Economic Reality in Saudi Arabia Kingdom


Saudi Arabia was suffering economically during the 1930s and1940s. In the decades it started to gain adequate revenues after the principle of of profit sharing with ARAMCO. But Saudi economic break through was in the 1970s after oil prices adjusting as it began to implement the economic plans where it has paid an increasing attentionto non-oil sectors but the success was relative as the contribution of these sectors is still below the required level.Saudi's economy is classified in the first grade among Arab countries for its material and moral potentials. Globally, Saudi's economy is considered one of the biggest (20) economies and the position (9) in terms of economic stability, also; it ranked (11) at the level of attracting investment countries and it owns(20) of the world's oil supply. Saudi per capita income average is about (78) Reals.